As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Patriot National Bancorp's Chairman of the Board, Michael A. Carrazza, made a $649,492 buy of PNBK, purchasing 865,990 shares at a cost of $0.75 a piece. So far Carrazza is in the green, up about 724.7% on their purchase based on today's trading high of $6.19. Patriot National Bancorp is trading up about 6.4% on the day Friday. This buy marks the first one filed by Carrazza in the past twelve months.
And at Westrock Coffee, there was insider buying on Wednesday, by Director Joe T. Ford who purchased 80,000 shares at a cost of $7.46 each, for a trade totaling $596,400. Before this latest buy, Ford purchased WEST on 4 other occasions during the past twelve months, for a total cost of $916,173 at an average of $6.87 per share. Westrock Coffee is trading up about 4.4% on the day Friday. So far Ford is in the green, up about 5.6% on their buy based on today's trading high of $7.87.
VIDEO: Friday 5/16 Insider Buying Report: PNBK, WEST
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